GREEN EAGLE SOLUTIONS RAISES EUR 2.5M FROM SET VENTURES AND KIBO VENTURES AND APPOINTS CHAIRMAN

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AUTONOMOUS WIND TURBINE OPERATIONS TO BOOST RENEWABLE ENERGY OUTPUT

MADRID – 18th May – Green Eagle Solutions, which provides autonomous operations software for wind turbines, today announced it raised a EUR 2.5M Series A investment round from SET Ventures and Kibo Ventures. With the funding, Green Eagle will grow its sales and marketing team, scale up client delivery capabilities and accelerate international expansion.

Green Eagle helps owners and operators of wind parks improve efficiency and increase production through its Intelligent Control & Automation platform ARSOS. This product allows remote staff to operate many more turbines per operator, integrates external data to enable the execution of far more complex operations protocols, and uses AI-based algorithms to reduce turbine downtime. The platform also reduces operational expense while maximising availability and renewable energy output. The system is in daily operation at more than 1000 turbines from multiple customers throughout Southern Europe; for instance, RWE is using ARSOS to manage its fleet in Spain and Italy.

Green Eagle was founded in 2012 by Alejandro Cabrera and Juan Fernández to contribute to the digitalisation of the renewable energy sector. Cabrera and Fernández previously worked together in the wind industry. They wanted to prove that a very complex industry can benefit from digital tools to improve efficiency and simplify management processes.

In conjunction with the Series A financing, Anton Arts, managing partner of SET Ventures and Juan Lopez, investment director of Kibo Ventures will join the Board of Directors. Furthermore, the company will appoint Lars Hoffman as Chairman of the Board. Lars is an accomplished entrepreneur in the wind industry who founded sensor maker fos4x GmbH which was acquired by Polytech in 2020. Lars commented: “I’m looking forward to applying my experience to support the team in achieving their international growth goals”.

“With a product forged during years of specialised consulting in the field, Green Eagle is poised to drive down costs of wind energy, already the largest source of renewable energy in the world,” said Anton Arts. Juan López said: “At Kibo, we are keen to support teams that leverage deep vertical knowledge to solve hard problems through AI and we look forward to helping build a great company”.

“We are just scratching the surface of the huge opportunity to improve efficiency, reliability and output through automation,” said Alejandro Cabrera, CEO of Green Eagle. “We are working hard to lead this fast-growing market and we strongly feel that working with Lars Hoffmann, SET and Kibo will add tremendous value. We look forward to working with them on formulating key business and growth strategies,” Cabrera added.

ABOUT GREEN EAGLE SOLUTIONS:

Green Eagle Solutions is a Spanish technology start-up that is in the process of an international expansion and whose mission is to actively participate in the energy transition through the implementation of automation technologies. Green Eagle has launched ARSOS (Autonomous Renewable Smart Operation Software), the first B2B SaaS platform designed to operate renewable assets 100% autonomously. By applying the power of artificial intelligence, ARSOS enables previously unachievable levels of operational efficiency. The platform increases asset production as well as operational cost savings through the process of automation. For more information please visit www.greeneaglesolutions.com

ABOUT SET VENTURES:

Since 2007, Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage and energy efficiency. SET Fund III provides early growth-stage capital to ventures that shape the energy system transition through smart software and services-based business models. For more information please visit www.setventures.com

ABOUT KIBO VENTURES:

Kibo Ventures is a European focused early stage VC fund with presence in Madrid, Barcelona and Lisbon. The firm invests in entrepreneurs building global technology companies, in their Pre – A and A rounds, with initial tickets that range from €1M to €5M. Since 2012, Kibo has invested in 55+ companies including unicorns Flywire, Jobandtalent and Tier, as well as other AI – driven companies like Carto, Devo, DefinedCrowd, Paack and Clarity.ai, among others. For more information please visit www.kiboventures.com

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